Joint Credit Card

[he left me]

What is the name of your state (only U.S. law)? MA My stbx and I have 1 joint cc. with a small balance. He wants to take me off the card. I have opened my own cc to establish my own credit. I am getting conflicting info regarding taking my name off the joint one. One side is to have him close out the card and have him open his own cc. Other side is, by my name off the card, it will affect my credit rating when it comes time to refinance/purchase another home. Any advice?

 

[LdiJ]

What is the name of your state (only U.S. law)? MA My stbx and I have 1 joint cc. with a small balance. He wants to take me off the card. I have opened my own cc to establish my own credit. I am getting conflicting info regarding taking my name off the joint one. One side is to have him close out the card and have him open his own cc. Other side is, by my name off the card, it will affect my credit rating when it comes time to refinance/purchase another home. Any advice?

The joint card should be closed and he should get his own.

 

[he left me]

I was trying to add more info to my orignal post. We are physically separated. There has been no legal paperwork filed yet.(mediation next week). I agree he needs to open his own card, but what does that do to me credit wise?

 

[mistoffolees]

I was trying to add more info to my orignal post. We are physically separated. There has been no legal paperwork filed yet.(mediation next week). I agree he needs to open his own card, but what does that do to me credit wise?

It will probably have very little impact. As long as the card is paid off before it is closed out, it might take a couple of points off your credit rating (at most), and that will be recovered quickly.

If you leave it open in your name, it has the potential to do a LOT of damage.